Closing Bell: Sensex snaps 4-day winning run, Nifty below 17,750 amid weak global cues – IT, banking stocks drag most
The Sensex tumbled over 600 points, while Nifty50 slipped below the 17750-mark at the time of closing, dragged by IT and banking stocks.
The Indian markets on Thursday closed in negative after showing strength for 4 straight days amid weak global cues led by hawkish US Fed minutes on Wednesday. The Sensex tumbled over 600 points, while Nifty50 slipped below the 17750-mark at the time of closing, dragged by IT and banking stocks.
From weak global cues to rising cases of the Covid due to the new variant of Omicron, the benchmarks closed weak as the BSE Sensex slipped over 621 points or 1.03 per cent to 59602, and the Nifty50 fell over 179 points or 1 per cent to 17745.
Outperforming the benchmarks, the broader markets closed with minor gains as mid-cap surged 0.15 per cent and small-cap grew by a quarter per cent. Similarly, the 12-share banking index also dragged the Nifty index, as the Nifty Bank down 205 points or 0.55 per cent 37,490 to at the market close.
As many as 16 stocks are in the green, while 34 are in the red on Nifty50 intraday. JSW Steel cracked most to become a top laggard, down over 3 per cent, followed by UltraTech and Shree Cement each down almost 3 per cent. While Tech Mahindra, Adani Ports, Reliance Industries, HDFC and HCL Tech each slipped by over 2 per cent at the market close.
On the contrary, UPL surged most by over 2 per cent, to become a top gainer in the otherwise negative market, followed by IndusInd Bank and Bajaj Auto up almost 2 per cent, While Bharti Airtel and Maruti each jumped between 1-1.5 per cent at the market close.
03:59 PM IST